Open innovation impacts technology development by encouraging collaboration between organizations, individuals, and external partners to advance ideas and solutions. This approach fosters a culture of shared knowledge, where companies leverage external expertise, technologies, and innovations rather than relying solely on internal resources. Open innovation can lead to accelerated product development, increased creativity, and enhanced problem-solving capabilities. Additionally, it helps businesses adapt to market changes by tapping into diverse perspectives. Ultimately, open innovation drives competitiveness and allows organizations to respond more effectively to novel challenges and opportunities within the technology landscape.